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Friday, 14 June 2024
Forex reserves surpass $20b

Forex reserves surpass $20b

Staff Correspondent

Bangladesh’s foreign exchange reserves have gone above $20 billion, thanks to the export earnings and flow of inward remittances, particularly ahead of Eid-ul-Fitr, the biggest religious festival of Muslims.

The reserves reached $20.11 on 8 April, as per the Bangladesh Bank's calculation based on the International Monetary Fund's Balance of Payments and International Investment Position Manual (BPM6).

According to the central bank, the gross reserves stood at $25.39 billion.

On 27 March, the reserves were $19.45 billion as per the Bangladesh Bank’s BPM6 calculation, while the gross reserves were $24.81 billion.

The central bank started following the IMF’s BPM6 in calculating foreign exchange reserves as per a condition set by the global lender for a $4.7 billion loan approved for Bangladesh.

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